Revenue neutrality in domestic related-party loans can require deletion of interest transfer pricing adjustments after domestic-transaction verificati...
Pre-enactment land-sale agreements escape stamp-duty value substitution where substantial banking-channel consideration was received before Section 43...
For the pre-14.05.2015 period, service tax valuation under Section 67 of the Finance Act, 1994 was confined to the consideration charged for the taxable service and could not be expanded to losses or unrecovered expenditure. The Court noted that Rule 5(1) of the Service Tax (Determination of Value) Rules, 2006 had already been held ultra vires Section 67, and that the amendment treating reimbursable expenditure as part of 'consideration' operated only prospectively from 14.05.2015. As the show cause notice covered an earlier period, the demand based on Rule 5(1) was untenable and was quashed as without jurisdiction.
For the pre-14.05.2015 period, service tax valuation under Section 67 of the Finance Act, 1994 was confined to the consideration charged for the taxable service and could not be expanded to losses or unrecovered expenditure. The Court noted that Rule 5(1) of the Service Tax (Determination of Value) Rules, 2006 had already been held ultra vires Section 67, and that the amendment treating reimbursable expenditure as part of 'consideration' operated only prospectively from 14.05.2015. As the show cause notice covered an earlier period, the demand based on Rule 5(1) was untenable and was quashed as without jurisdiction.
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